Why does Trump want access to Ukraine’s rich mineral deposit?
1 month ago

Why does Trump want access to Ukraine’s rich mineral deposit?

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Ukraine holds an estimated 500,000 metric tonnes of lithium reserves and vast deposits of rare earth elements, titanium, and nickel, crucial for high-tech industries. With China controlling over 60 per cent of global rare earth processing, the Trump administration is pushing for US access to these resources to reduce dependence on Beijing US President Donald Trump and Ukraine's President Volodymyr Zelenskyy meet at Trump Tower in New York City, US, September 27, 2024. File Image/Reuters The United States and Ukraine have agreed to the terms of a draft minerals deal that could significantly shape Kyiv’s economic future while securing Washington’s access to critical resources. However, Russia’s invasion has complicated access to these resources, with reports indicating that Moscow currently occupies up to 40 per cent of Ukraine’s metal deposits, including key lithium-rich areas. According to Ukrainian think tanks, up to 40 per cent of Ukraine’s metal resources are now under Russian occupation, including two major lithium deposits in Donetsk and Zaporizhzhia.

History of this topic

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